• 23 July, 2024
News

OKX Jumpstart to Host SUI’s Token Allocation Lottery on April 23

Cryptocurrency exchange OKX has announced that the SUI token sale would take place on the OKX Jumpstart platform on April 23. OKX proclaimed that SUI’s token sale would take place as a token allocation lottery, during which the OKB holders could gain lottery tickets using their OKB coins. The winning tickets would further be utilized to purchase the SUI tokens at a heavily discounted rate.

The General Sale details for the SUI token, as shared by OKX, revealed a General Sale Allocation of 225,000,000 SUI, with the SUI Token Sale price being set at the ratio of 1 SUI = 0.1 USD. The Exchange rate is stated to be determined by OKB’s price calculated via daily snapshots taken at 16:00 UTC from April 15 to April 19.

Further, as per OKX, a Recognition Sale would also take place for Sui ecosystem contributors. Recognition Sale participation requires users to be “officially allowlisted by the Sui Foundation.” In addition, OKX revealed that such “Allowlisted users” would qualify to buy a maximum of “1,500 SUI from a pool of 25,000,000 SUI for the price of just 0.03 USD, and the tokens will be fully unlocked during the mainnet launch.” 

Significantly, the Allowlisted users would be able to buy SUI via their OKB at the time of the OKX Jumpstart event. It was declared that the participants in the OKX Jumpstart event would also get an avenue to take part in the token allocation lottery.

Notably, the “General sale Subscription period” is stated to be from 23 April 2023 02:00 UTC to 24 April 2023 02:00 UTC by OKX. The quantum of Lottery tickets receivable by a user would depend upon their average OKB holdings for the 3 days prior to the subscription date (April 20-22). As per OKX, the winning ticket quota is capped at 100 or 10,000 SUI.

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